Phenom Resources Corp Com V.FVAN

Strong drilling results

[KM24207]

Based on the 2018 drilling, my numbers indicate 0.65% V2O5 and a strip ratio of only 0.8:1 using a 0.35% cutoff grade. This equates to $302CAD/ tonne of ore - the equivalent of 5.42g/T gold!

If that were the case, it would be the third highest grade open pit gold mine on the planet, just slightly behind Mt. Carlton (5.86g/T) in Australia which is owned by Evolution Mining (Mkt. cap of $6.6 BILLION).

Of course mining and production costs are as important as grade; we know it’s at surface and the strip ratio is incredibly low so I have no concerns about the mining costs, the next box to tick off is processing costs - that’s the big one!